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Parliamentary panel rejects govt response on cyber fraud, says it fails to plug key gaps
The committee noted that under the proposed compensation framework, 65 per cent of compensation payouts would be assigned to the RBI while beneficiary banks would bear only a 10 per cent burden. According to the panel, this creates a "severe moral hazard" and does not...
Kerala partners with SAS to strengthen social welfare schemes delivery using Artificial Intelligence
The collaboration marks an important milestone in Kerala’s ongoing efforts to harness advanced analytics and artificial intelligence to drive enhanced transparency in beneficiary selection, and establishment of a safety net for disaster prevention,mitigation, and...
Liberty Mutual Reinsurance makes world’s first earthquake parametric payment triggered by Safehub’s Shake Network
Jean-Christophe Garaix, head of parametrics and agriculture at Liberty Mutual Reinsurance, said: "Parametric insurance is increasingly being used to support natural catastrophe events. We deliver sophisticated parametric solutions which help clients in their times of...
“India showing interest in Northern Sea Route cooperation,” says Putin as he warns of “artificial tensions” in Arctic
The Russian president further cautioned that any retaliatory action by Moscow would not be restricted exclusively to the maritime zones where Russian vessels might be detained. These remarks follow intensified efforts by the EU aimed at curbing Russia's shadow fleet,...
Heatwaves could cost France €10-15 billion, environment minister says
The 2022 drought resulted in €5.6 billion in direct and indirect costs, but this year’s heatwaves have been longer and more intense, with more extensive forest fires and a greater decline in agricultural production, French environment minister Monique Barbut said. The...
AI’s volatile power demand is damaging Its own data centers
AI data centers put particular strain on their power supply when they are training new models — a process that mobilizes all of the graphics processing units in unison. Like the digital equivalent of bees swarming or a school of fish changing direction, hundreds of...
Govt plans insurance reforms to rein in healthcare costs, sources say
"The idea is to benchmark treatment rates, agreed between insurers and hospitals, to reduce disputes and fraudulent claims," said one of the sources. MUMBAI: The government is weighing wide-ranging reforms of health insurance, from benchmarked treatment rates to a...
Private hospital room cost must not exceed 3-star hotel room tariff in cities: Parl panel
The committee noted that households continue to face significant financial stress while accessing private healthcare, with average out-of-pocket expenditure per hospitalisation episode pegged at Rs 34,064. It also flagged medical inflation of 10-13 per cent and...
Hormuz Strait to remain closed unless U.S. meets Iran’s conditions, Iranian security council says
U.S. President Donald Trump on Monday responded to Iran's conditions for a peace deal with his own demands that Iran pay compensation for people killed in wars, attacks and protests, in a rhetorical escalation likely to complicate efforts to reopen the Strait of...
Climate change driving extreme rainfall in Himalayas, anthropogenic factors adding to risk: Govt
Minister of State for Home Affairs Nityanand Rai said assessments by weather experts, scientific institutions and state authorities indicate that climate change has increased the intensity and frequency of extreme rainfall events in the Himalayan region. New Delhi:...
US court rules Meta, other tech firms must face thousands of lawsuits over social media addiction
Filed by states, municipalities, school districts and individuals, the lawsuits allege that social media companies intentionally addicted young users, contributing to surging depression, anxiety and body-image issues and a broader mental health crisis among American...
Oman says spill from grounded shadow oil tanker covers 400 square kilometers
Built in 2001, it is part of the so-called shadow fleet of older oil tankers used by Russia which lack Western insurance cover and sail under the flags of various nations to obscure their true ownership. Leaking crude oil from a tanker grounded off a nature reserve in...
Four crew, two rescuers killed in Red Sea attack; US strikes ship in Gulf of Oman
Traffic is even more disrupted in the Strait of Hormuz with just six passing through on Monday, down from a 10-day average of about 11 and prewar levels of some 130 to 140. Shipping through the Bab el-Mandeb strait and Red Sea has fallen by more than 50% since an...
Typhoon season forecast to be among most intense ever for Asia
The Northwest Pacific is already seeing heightened storm activity, recording three Category 5 typhoons this season as of Aug. 1, according to the forecaster. Though Typhoon Dolphin quickly dissipated after crossing the Chinese coast over the weekend, two named...
Careless AI use could create new forms of financial exclusion, instability:RBI Governor
Reserve Bank of India Governor Sanjay Malhotra said AI built on top of this digital infrastructure has the potential to significantly change financial services and improve financial inclusion, but warned that the technology also carries risks if not deployed...
Changing Hazards:Benign H1 2026 masks rising natural catastrophe risk, finds Swiss Re
Wildfire risk has so far accounted for only a relatively small share of insured losses in Europe. Yet it is the fastest-growing weather peril globally. Insured wildfire losses in Europe have increased by an estimated 8–11% per year in real terms since 1970, Swiss Re...
Air India Pilot Tests Positive for Marijuana After Turbulence
"The screening test in respect of the Pilot-in-Command (PIC) indicated a result requiring confirmatory testing. Samples have accordingly been sent to the designated laboratory for confirmatory analysis, and the final report is awaited," the Civil Aviation Ministry...
Girija Subramanian takes over as member Distribution,IRDAI
Girija Subramanian, member, Distribution, IRDAI Except the post of member, Actuary, all other Member positions have now been filled.Dinesh Pant, managing director, Life Insurance Corporation, who has already been selected for the post member, Actuary , is yet to join...